data as of
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Price arb /

VIRTUAL

all VIRTUAL markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$31
spread now+0.178%7d average+0.085%fees + slippage, in and out−$40spread needed0.403%
Long on BybitShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit VIRTUALUSDT0.70880.0100pay 0.0050% / 4h2h 00m$15.8M$15.0M50x
ShortHyperliquid VIRTUAL0.71010.0161get 0.0020% / 1h0m 53s$9.4M$3.1M5x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$17.78
Funding while held
$1.84
Slippage, 4 orders
−$20.29
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$20.68
Spread needed to break even
0.403%
Slippage from Bybit: live order book, 4 min ago; Hyperliquid: live order book, 3 min ago.

Cost of waiting

funding view
Funding /8h
+0.0061%
Per $10,000 a day
+$1.84
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 4 min ago0.71 bp10.6 bp −$1124.7 bp −$247doesn't fitdoesn't fit
Sell Hyperliquid live order book, 3 min ago1.48 bp7.2 bp −$7doesn't fitdoesn't fitdoesn't fit

VIRTUAL price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.6744cheapestExtended0.7086+5.077%
Bybit0.7088+5.101%
OKX0.7089+5.116%Binance0.7091+5.145%Aevo0.7093+5.179%MEXC0.7094+5.190%Orderly0.7094+5.190%Deribit0.7094+5.190%BingX0.7095+5.205%BloFin0.7095+5.205%Polymarket Perps0.7096+5.212%SoDEX0.7096+5.215%Gate0.7096+5.219%Reya0.7096+5.222%KuCoin0.7097+5.234%Lighter0.7097+5.236%Backpack0.7098+5.249%GMX0.7098+5.253%gTrade (Gains Network)0.7098+5.256%Bitget0.7099+5.264%ApeX Omni0.7099+5.264%Aster0.7099+5.266%
Hyperliquid0.7101+5.288%
01 Exchange0.7101+5.294%Kraken Futures0.7101+5.300%Pacifica0.7103+5.323%edgeX0.7105+5.359%SunX0.7108+5.397%Phoenix0.7109+5.411%Variational Omni0.7113+5.475%Coinbase International0.7136+5.813%

VIRTUAL on 32 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective VIRTUAL/USDC PERP−4.853%+0.0033%1h$43$105K5.5xas long as short
Extended VIRTUAL-USD−0.023%+0.0104%1h$55K$244K10xas long as short
Bybit VIRTUALUSDTlong0.000%+0.0100%4h$15.8M$15.0M50x
OKX VIRTUAL-USDT-SWAP+0.014%+0.0100%4h$2.8M$10.2M20xas long as short
Binance VIRTUALUSDT+0.042%+0.0100%4h$16.6M$34.9M75xas long as short
Aevo VIRTUAL-PERP+0.075%+0.0104%1h$18K$5053xas long as short
MEXC VIRTUAL_USDT+0.085%+0.0100%4h$16.4M$3.8M100xas long as short
Orderly PERP_VIRTUAL_USDC+0.085%+0.0078%4h$14K$1.5M10xas long as short
Deribit VIRTUAL_USDC-PERPETUAL+0.085%−0.0313%1h$15K$20K10xas long as short
BingX VIRTUAL-USDT+0.099%+0.0100%4h—$8.3M—as long as short
Show all 32 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BloFin VIRTUAL-USDT+0.099%+0.0340%4h$843K$725K75xas long as short
Polymarket Perps VIRTUAL-USD+0.106%−0.0523%1h$31K$778K5xas long as short
SoDEX VIRTUAL-USD+0.109%−0.0012%1h$211$8K5xas long as short
Gate VIRTUAL_USDT+0.113%+0.0100%4h$1.5M$2.9M75xas long as short
Reya VIRTUALRUSDPERP+0.115%−0.0139%1h$24—10xas long as short
KuCoin VIRTUALUSDTM+0.127%+0.0100%4h$3.0M$4.1M50xas long as short
Lighter VIRTUAL+0.128%+0.0096%1h$358K$274K5xas long as short
Backpack VIRTUAL_USDC_PERP+0.141%+0.0100%1h$231K$163K10xas long as short
GMX VIRTUAL/USD [WBTC.b-USDC]+0.145%L +0.0298% / S −0.0228%1h$30K—100xas long as short
gTrade (Gains Network) VIRTUAL/USD+0.147%L +0.0007% / S −0.0004%1h$13K—150xas long as short
Bitget VIRTUALUSDT+0.155%+0.0100%4h$6.0M$5.5M25xas long as short
ApeX Omni VIRTUALUSDT+0.155%+0.0100%1h$42K$229K50xas long as short
Aster VIRTUALUSDT+0.158%+0.0100%4h$184K$67K20xas long as short
Hyperliquid VIRTUALshort+0.178%+0.0161%1h$9.4M$3.1M5x
01 Exchange VIRTUALUSD+0.183%−0.0208%1h$2K$53910xas long as short
Kraken Futures PF_VIRTUALUSD+0.189%+0.0266%1h$444K$515K50xas long as short
Pacifica VIRTUAL+0.212%+0.0100%1h$71K$37K5xas long as short
edgeX VIRTUALUSDC+0.246%+0.0100%4h$18K$253K10xas long as short
SunX VIRTUAL-USDT+0.282%+0.0100%4h$1K$1.2M20xas long as short
Phoenix VIRTUAL+0.295%−0.0101%1h$11K$42K5xas long as short
Variational Omni VIRTUAL+0.356%+0.0049%4h$715K$595K—as long as short
Coinbase International VIRTUAL-PERP-INTX+0.677%+0.0336%1h$195K$149K50xas long as short